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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Magnatizer who wrote (36600)8/23/2000 8:30:17 AM
From: ChrisJP  Read Replies (1) of 79326
 
Hi Mag,

Yes I think that relief correction after the build-up to the FOMC decision (or non-decision) is in the cards. The oil scare won't help either. Funny, it just seems like yesterday when the "lying talking heads" were proclaiming that oil could not sustain $25/barrel. When they all start saying we're heading for $50/barrel, it is probably because they want the public to buy the energy sector stocks they were accumulating last winter.

Not sure why you feel a 20 point drop in the S&P warrants a "look out below", but I agree, it does seem easier to come up with reasons to sell, and tough to come up with reasons for buying right now.

Thanks for keeping your commentary and charts updated.

Regards,
Chris
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